Chart Beat: Highways authority is awarding projects at a snail’s pace
- The NHAI has cleared just 310 km of highways in FY24, or about 5% of its 6,000-km target
The National Highways Authority of India (NHAI) has been awarding projects at a snail's pace of late. So far this financial year it has cleared just 310 km of highways or about 5% of its 6,000-km target, which is roughly in line with FY23 levels. This has had an impact on road construction companies. Motilal Oswal Financial Services noted that NHAI would pick up the pace in December, but even so, most road construction companies have reduced their order-inflow guidance for FY24.